Recent 8-K filings for SCM
Highest-materiality recent filing
Stellus Capital establishes $100M at-the-market equity offering program
- Enters equity distribution agreement to sell up to $100M in common stock via ATM.
- KBW and Raymond James serve as sales agents; commission of 1.5% of gross sales.
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Stockholders elect director and approve new investment advisory agreement at annual meeting
Bruce R. Bilger elected director with 13,650,012 votes for, 2,122,882 withheld.
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Stellus Capital Management to be acquired by P10; BDC shareholders to vote on new advisory agreement
Acquisition of external adviser Stellus Capital Management by P10 (NYSE:PX) for undisclosed terms; expected close mid-2026.
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Stellus Capital redeems remaining $50M of 4.875% Notes due 2026 on Dec 31, 2025
Company will redeem remaining $50M aggregate principal of its 4.875% Notes due 2026 on Dec 31, 2025.
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Stellus Capital issues $50M add-on to 7.250% Notes due 2030; total outstanding now $125M
Issued $50M aggregate principal of 7.250% Notes due 2030 at a price yielding total proceeds of ~$50.65M before discounts/expenses.
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Stellus Capital expands revolver to $335M, extends maturity to 2030, cuts margins
Credit facility commitment increased from $315M to $335M; accordion cap raised to $365M.
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Stellus Capital establishes $100M at-the-market equity offering program
Enters equity distribution agreement to sell up to $100M in common stock via ATM.
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Stellus Capital announces partial redemption of $50M of its 4.875% Notes due 2026
Will redeem 50% ($50M) of its $100M 4.875% Notes due 2026 on Sept 30, 2025.
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Stellus shareholders approve below-NAV share issuance up to 25%; directors elected
Proposal to authorize up to 25% of outstanding shares issued below NAV passed with 11.2M for, 3.3M against.
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Stellus Capital issues $75M of 7.250% Notes due 2030; net proceeds to repay credit facility
Fourth Supplemental Indenture for $75M of 7.250% Notes due 2030 executed on April 1, 2025.
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Stellus Capital Investment Corp. issues $75M of 7.250% Notes due 2030
$75 million aggregate principal of 7.250% Notes due 2030 issued via underwritten public offering.
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Stellus Capital increases credit facility commitments from $260M to $315M
Commitments under the senior secured revolver raised by $55M to $315M via Increase Agreement dated Oct 30, 2024.
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Stellus Capital shareholders elect directors, approve share issuance below NAV
Robert T. Ladd re-elected with 13,269,460 votes for, 580,559 withheld.
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Stellus Capital dismisses Grant Thornton as auditor, engages Deloitte & Touche
Dismissed Grant Thornton LLP as independent auditor effective April 3, 2024; Board acted on Audit Committee recommendation.
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Maximum commitment reduced from $265M to $260M; accordion limit raised from $315M to $350M.
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Stellus Capital enters $100M ATM equity distribution agreement with KBW and Raymond James
Up to $100M of common stock may be sold at market prices through Keefe, Bruyette & Woods and Raymond James as sales agents.
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Stellus Capital shareholders re-elect Bruce R. Bilger as director; approve share issuance below NAV
Annual meeting held June 22, 2023; 11,473,492 shares voted out of 20,835,746 eligible.
Materiality & sentiment trend
Max materiality 0.70 · Median 0.55 · Most common event debt